asset building: global perspectives li zoussa.uchicago.edu/sites/default/files/uploads/lunch... ·...
TRANSCRIPT
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Asset Building: Global Perspectives
Li Zou International Director
Center for Social Development Washington University in St. Louis
Global Perspectives on Adolescent Health and Economic Strengthening Conference: Lessons from Sub-Saharan Africa
University of Chicago May 13, 2014
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International Footprints
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Why?
Income and consumption: - Essential for sustenance and well-being - Do not improve long-term conditions
Assets and savings: - Critical for long-term development
of individuals and households - Lead to many secondary “asset
effects” that enhance quality of life
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They do exist for the rich.
The poor deserve them too (especially vulnerable children & adolescents)!
Asset Building Policies…
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Experiment the Ideas
• Early 1990’s: IDAs, and Assets and the Poor - Translated into Chinese in 2004 and published in 2005
• Late 1990’s: The American Dream Demonstration
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United Kingdom
• Saving Gateway (matched savings like IDAs)
• Child Trust Fund: First truly universal and progressive asset-based policy.
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South Korea
• Child Development Accounts
• “Hope Development Accounts” won the 2010 UN Public Service Award.
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Policy Diffusion in South Korea
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Policy Diffusion in South Korea
Year Implementing Governments Policys/Programs 200 Korean National Gov Child Development Accounts
2008 Seoul Metropolitan Gov Seoul Hope Dream Project 2009 Daeku City Gov 3-yr: housing and small business
5-yr: children's education 2009 Changwon City Gov 2-yr: matched savings 2009 Pyeungtaek City Gov 3-yr: IDA 2009 Namyangju City Gov 3-yr: IDA 2010 Ministry of Health, Welfare, and Family Affairs Hope Kium Accounts
Year Implementing Government Policies/Programs 2007 Korean National Gov Child Development Accounts 2008 Seoul Metropolitan Gov Seoul Hope Dream Project 2009 Daeku City Gov 3-yr: housing and small business
5-yr: children's education 2009 Changwon City Gov 2-yr: matched savings 2009 Pyeungtaek City Gov 3-yr: IDA 2009 Namyangju City Gov 3-yr: IDA 2010 Ministry of Health, Welfare, and Family Affairs Hope Kium Accounts
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Mainland China: Selected Confs
International Conference on Asset Building and Social Development (Shandong, China, 2004)
Shandong University
Chinese Academy of Social Sciences
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Mainland China: Selected Confs
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Mainland China: Selected Confs
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Mainland China: Selected Confs
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Mainland China: Selected Pubs
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Mainland China: Research
Research Project in Hutubi County, Xinjiang
Assets in a rural retirement security scheme used for agricultural and household investments
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Hong Kong, China
Child Development Fund (since April 2008)
Goal: encourage children to plan for the future, develop an asset-building habit, accumulate savings
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Policy Diffusion in Taiwan
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Policy Diffusion in Taiwan
Year Implementing Governments Policies/Programs 2000 Taipei City Gov 3-yr: Taipei Family Development Accounts 2003 Taipei City Gov 3-yr: Self Development Accounts 2007 Taipei City Gov 3-yr: Youth Development Accounts 2008 Taipei City Gov 4-yr: Children Hope Development Accounts 2005 Taipei County Gov Matched savings program 2007 Kaohsiung City Gov Hope Project for the 2nd Gen. 2008 Yi Lan County Gov 7-yr: Minority Family Development Accounts 2009 Ping-Tung County Gov 5-yr: Happy and Secure Accounts 2010 Chiay County Matched savings program 2011 Taoyuan County 1-yr: Matched savings program for youth
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19
YouthSave: A Global Initiative
• Multi-year project to promote financial asset building for low-income youth
• Principal activities – Product development: Technical assistance and cost-sharing on start-
up expenses for local FIs to develop and roll out savings accounts attractive & accessible to low-income youth
– Research: Collection & analysis of client- and FI-level data to understand customer behavior & outcomes, business case for FIs
– Engagement & knowledge dissemination: two-way knowledge sharing with diverse stakeholders to inform policy and practice on youth savings
• Implementation countries: Colombia, Ghana, Kenya, Nepal
• Timeline: 2010 – 2015
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Partnership
Funder: The MasterCard Foundation
YouthSave Consortium (US-based): Save the Children Center for Social Development, Washington University Consultative Group to Assist the Poor (CGAP) New America Foundation
In-country Partners:
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YouthSave Family
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Research Team in Kenya
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Goals of the Learning Agenda
• Document the uptake, savings patterns and outcomes of YSAs on clients and financial institutions.
• Build international research partnerships in four countries.
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A Few Take-Away Points:
• Asset building is emerging worldwide as an innovative policy;
• Policy potential to benefit large population; • Growing body of international research; • Great cross-learning opportunities.
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